Tesla s Elon Musk could save billions in move to Texas
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Gov. Greg Abbott and Elon Musk threw up a hook em in July. As a newly-minted Texan, Musk can save billions of dollars in capital gains taxes if he decides to sell some of his Tesla stock.Screenshot via Facebook/Greg Abbott
Elon Musk said he moved to Texas because he was fed up with California’s COVID-19 response and to be closer to his Tesla and SpaceX facilities in the Lone Star State.
But there could be another reason for Musk’s big move: avoiding California’s capital gains taxes.